I'll come at this one from a different angle, I speak from some experience, I have lost a lot of weight in the past 5 months ( approaching triple digits! )
You can exercise all you want, but if you don't eat properly you won't lose weight, here's how I have suceeded so fear.
1.) No junk food ( NONE! )
2.) I drink lots of water, 2+ litres per day, I drink nothing else
3.) Small portions of meat, no more than 4-6 ounces
4.) More vegis than you can imagine, Broccoli, Carrots, Brussel Sprouts, Cucumber, Cauliflower, eat lots of it, eat it all the time
6.) Eat 6-8 times a day
7.) 2-3 Pieces of fruit per day
8.) no bread, very little rice, and very little pasta
9.) NO JUNK, EVER!
if you can do that you will lose your belly fat, walking is enough exercise, I ride my bike, and do weights three times a week, but if you do not have your eating under control then you'll just be a healthy chubby guy!