Belly fat is usually the LAST type of fat you lose from your body when on a diet/fitness program. The body is extremely efficient, and the midsection is a good "storing area" because it offers the least energy-resistance to the moving body.
As others have said above, the steps you need to take in order to lose those love handles are:
1. Modify your diet so that you consume fewer calories than your body needs. Estimate your approximate daily caloric intake (http://www.freedieting.com/tools/calorie_calculator.htm
and try to consume 500-750 calories less than that each day. Or, better yet, do cardio in conjunction with your diet. For instance, eat 250 calories less, and do half an hour of jogging on the treadmill which might burn 250 calories (-500 in total). Over a week, you should be losing 1-1.5 pounds. If you try to lose any more than that per week, you risk lowering your body's metabolism to adapt to your new diet.
What to eat? Eat more fruits and vegetables, whole grains, lean protein, and fibrous foods. As for fats: monounsaturated and poly-unsaturated are fine, satured fat and trans fat are bad.
Also, eat six times a day.
8:00 AM - Breakfast - 600 cal
10:30 AM - Snack 1 - 250 cal
1:00 PM - Lunch - 550 cal
4:00 PM - Snack 2 - 200 cal
7:00 PM - Dinner - 500 cal
10:00 PM - Snack 3 - 200 cal
TOTAL: 2,300 cal
Try to eat a little protein with each meal to keep your body satisfied. For breakfast, I like having hot oat bran because it leaves me full, and gives me energy for the rest of the day (it has a very, very low glycemic index). Some healthy snacks may include apples with peanut butter, no- or low-fat cottage cheese, protein shakes, or energy bars.
2. If you're not already doing cardio, add it to your routine. On non-weight training days, perform 30-45 minutes of cardio, gradually increasing the intensity every week. Many people are now advocating "interval-training"--if you've done cardio consistently for the past few months or so, give it a try.
3. Be patient. Weigh yourself only once a week, at most.