ValleySnyper - You have accomplished the first step, which is verbally accepting a change is wanted/desired, and you are committed to doing what it takes.......the rest is more MENTAL than physical, I promise. 90% of weight loss is in your Diet, and for those that can commit to a strict diet, can shed lbs very quickly.......once the weight comes off, the stress on your knees/joints will be substantially relieved. Note, to be successful at ANY diet, you need to commit yourself to it unconditionally for at least 60 days, prior to incorporating some reward meals.......if you cheat, you are just setting yourself up for failure. Remember, it takes on average 21 days for your body to change energy sources......so if your body is currently running on carbohydrates (like most bodies due), your body will take 21 days to convert to a high protein & green vegetable diet......after these 21 days, the weight will start to fly off. If you are willing to commit to a strict diet, I am happy to help you meal plan.
A strict diet to lose the weight is likely the only way to prepare you for the next step, which is to incorporate the physical activity/exercise.......Sure, it makes perfect sense to exercise when you start your diet, but you will likely be heavily fatigued during those first 21 days until your body converts......but walking and light weights are perfect to shed extra calories and help speed up the weight loss. After those 21 days, you will feel a noticeable difference in your energy level, and your joint pain will start to improve, so your ability to push further with your exercise routine will significantly increase.
BTW - I am speaking from experience because I just executed my weight loss/fitness program after family history of bad hips started to catch-up with me. After shedding some weight and relieving the stress on my Hip, I am now running 4 - 5 miles a day (5x a week) and virtually have no pain in my hip......its crazy how good I feel.
So the questions for you - Are you mentally strong enough to commit to a diet to put your plan into action?? There are multiple GOOD diets to suit your needs, but none will work without discipline. My diet of choice was Protein and starchless vegetables (like green vegetables), free from Gluten, Soy, Dairy, and Caffine (a real tough one for me). The first week is tough, but thereafter, it becomes easier and easier, because you see the weight coming off with each passing day.
Examples of meals (w/ Lunches mostly at restaurants - all of which will cater to your diet BTW):
Morning - Hard Boiled Egg, occasional bacon or ham (w/o Soy) - Not a big breakfast person though, so usually drink a lot of water and hold out for lunch.
Lunch - lots of rotisarry chicken w/ hot sauce (hot sauce is usually carb-less), hamburgers (no cheese) on lettuce, salads w/o crutons - always with a vinnegrette dressing
Dinners (at home usually) - garlic and herb chicken (stir fried) in a table spoon of canola oil, grilled chicken, grilled steaks, grilled fish, steamed spinach/broccoli/peas/carrots, salads, pretty much any green vegetable (steamed or sautéed).
Best of luck and let me know if I can be of further assistance.