Brownale saidYou're losing 5 lbs a month which is very healthy weight loss AND will significantly reduce the amount of excess skin you'll have as it will give your skin some time to contract. You didn't gain the weight in one day so keep that in mind. You're doing great so far. Keep at it with a goal of 1-2lbs weight loss per week and you'll be in even better shape by Christmas. Congrats!
Slower weight loss won't significantly reduce the amount of loose skin in. If you loose 50lbs over 3 months or if you loose 50lbs over 3 years the skin will tighten up to the same amount. The only difference is that you will be "wearing" looser skin until that 3 year mark. The rate at which you loose the wight doesn't play a factor into the elasticity of the skin. There are other factors at play that include hydration, genetics, and nutritional intake. The older you are the less elasticity you have not factoring in the genetics component.
I know you probably think "who the fuck is he to say...." , but I have been part of an online (at at time IRL) community of people who were morbidly obese and who have dropped at least 100lbs over the past four years and this topic is brought up and reviewed ad nauseum. From all the bariatric docs we have met with and from the collective experiences in our group those who lost 100s of pounds slowly and those who lost it quickly you eventually see the same amount of loss over time.
The only real significant factor that seems to work in reducing the amount of loose skin after it's hit its limit is when you fill what you can with muscle. This holds true for most places except the panniculus which is the hardest to firm up. Also, the suprapubic fat pad (area above the penis) is another pesky area left after significant fat loss. You can't fill that with enough muscle to hide the fat loss, it does shrink quite a bit on it's own and the skin there is quite stretchy, but it doesn't seem to look right on it's own. Most people opt for cosmetic remedies for that.
Sorry, I'm not trying to come across as a "know-it-all" but I wouldn't want someone who is obese or morbidly obese to think if they loose weight slower they are doing better. The quicker they can safely get their body into a healthier range, the better off they are even when it comes to skin.