Sorry, but spot reducing is impossible (no matter how much we wish we could). Just keep losing weight and eventually the weight in your legs will vanish too. Here's what worked for me:
I did 20 minutes of high intensity interval training followed by 15 - 30 minutes of steady state cardio every other day. An example of this would be 20 minutes of alternating slow jogs (1 minute each) & increasingly fast sprints (30 seconds each), followed by 15 - 30 minutes of brisk walking. If you don't like or can't do jogging/sprints, you could substitute it with the elliptical, bike, or even swimming as long as you still do the intervals and finishes with the steady cardio.
On the down days when not doing HIIT, just do a full session (15 - 45 minutes) of steady cardio and some resistance circuit training (full body workouts including push ups, squats, deadlifts, burpees, etc.). To really cinch in your waist, you'll probably need to add core stability & strengthening exercises such as planks, side-planks, renegade rows, lying straight leg lifts, hip raises/bridges, bird-dogs, hanging bar knee ups, etc.
The plan basically breaks down to 20 Minutes of High Intensity Interval Training (HIIT) followed directly by 15 - 30 minutes of steady state cardio every other day. On days between when you don't do HIIT, you do a full session (20 - 45 minutes) of steady cardio combined with full body resistance training with added concentration to your abs. The HIIT & Steady cardio blasts fat (weight) and the resistance training tones & tightens up everything.
Now for diet, which is probably the most important issue in reaching your goals. First of all, try the paleo diet, you'll be stunned at the difference it makes. Check out sites like Mark's Daily Apple & Fitness Blackbook for more information. For foods to reduce (or better yet, cut) from your diet, I'd say sugars, over-processed starches (white bread, pasta, rice, etc.). If anything you'll probably need to increase your protein intake a little as well (lean proteins such as chicken).
Next, to assist with the fat loss & calorie deficit, add 1 or 2 separated days of fasting a week (as in on those 1 or 2 days you only have water for most of the day and a healthy, well proportioned dinner). Basically, Eat Stop Eat (which you can also look up online at it's website or at Fitness Blackbook).
Finally, you'll want to increase water intake to flush out the excess sodium & other toxins in your body.
Anyway, best of luck to you with your weight loss!
Myself. I lost 70 lbs & 11 inches around the waist in less than a year (roughly losing 1 - 2.5 lbs a week for an average of 8.67 lbs a month). I'm working on the last 30 lbs and expect to lose another 2 lbs this week and 2 whole inches around the waist within the next 3 - 4 weeks. My guy cousin followed this plan with me & dropped from 27% body fat to 6% body fat. I found it almost a little unfair how much more quickly he got results...