Hey, Frank.
I'm partners in a strength training business and have edited four books for a nationally-known fitness trainer, including one on fat loss.
While the most effective fat loss plan varies by individual, in my experience the best general target to shoot for is loss of one pound of fat per week using a combination of 1) eating roughly 250 calories under your daily maintenance level (being careful to track what you eat in an online calculator like fitday.com) and 2) 45 minutes of daily low-impact cardio such as walking, stationary bike, etc.
For your daily maintenance level you can use the online calculators, although they're more like guesstimators.
Deprivation diets almost always fail, and given the amount of fat you need to lose, there's no need to go on a more aggressive cardio plan. What I've outlined will get you there slow and steady.
One other thing: IGNORE THE SCALE FOR THE FIRST FEW WEEKS. Your daily weight can fluctuate dramatically…mine does by two or three pounds. Plus, for men, fat comes off the waistline last. You'll see it disappearing from your face and arms first, then the waistline will follow.
I don't know if you have a Kindle or not, but if you're interested in a more in-depth plan for diet and exercise, here's one of the books I've edited:
Amazon.com: Iron Addict's Way of Change eBook: Wesley Silveira, Ed Ditto: Kindle Store
This is available in paperback, too. PM me if you're interested and I'll tell you how to get it.