Try this easy at home exercise.
Do a couple hundred sit ups everyday.
It will flatten your tummy faster than anything else I know. You probably won't do that amount in the beginning, but work up to it every day. You can do situps while watching your cooking shows on TV. If you need help, get your child or sig other to hold your feet down while you raise your body up.
You will hurt the first week or so, but keep doing it, you will be amazed at the results. And oh yeah, start walking a mile or two every day. Its the best calorie burner in the world.
Unfortunately, saggy skin is hard to avoid, especially, if you've been overweight for a long time, have a lot of weight to lose, or if you lose too quickly. Losing more slowly (1-2 pounds/week) will give your skin a chance to shrink more with your body. Dry brushing your skin with a boar bristle brush prior to bathing/showering can stimulate more blood flow to the skin, which helps improve elasticity. Drinking plenty of water and keeping hydrated will also help. Make sure you get a balanced diet and take a good multi.
While I understand how you feel, I feel the same way, myself, the health benefits of obtaining a healthy weight, should take precedence over saggy skin.