What's your diet like now? I've been able to cut on a 40-30-30 type diet. Actually I'm not on any strict diet per se, but what I eat is pretty close to this. The fatloss happened very gradually, which for me is fine. I'm in this for the long term. It seems to be working well for maintenance too. I should mention that my current diet (even when I was cutting) was actually more food than I used to eat.
You have to eat enough (and frequently) so you can maintain your muscle mass and keep your metabolism high. If you don't eat enough calories, you lose both fat and muscle, then you reach a point where the body starts to holding onto the fat no matter how little you eat or how much you work out. You'll never get lean when this happens (I've tried it!), because if you want "cuts" you have to have muscle.
Rather than thinking in terms of pounds, think of lowering your bodyfat % and maintaining (or building) muscle. Muscle is more dense than fat. Say you traded 5 pounds of fat for 5 pounds of muscle: you'd weigh the same, but wear a smaller size and look really lean and cut.