Get yourself a book called 'the abs diet', I dont have it with me at the mo so cant give you isbn num or anything but will post again when I get it back. Its got loads of information on various excercises to do, many of which do not require a gym or even weights, but when done properly give max results in short time. It also has lists of type of foods to eat, and also food the auther calls 'power foods' these are basically foods that maintain muscle and help to burn fat.
Avoid anything with saturated fats, the body doest need it and it just get 'stored' ie becomes flab! stick to monounsaturated and polyunsaturated. Also attempt to do as many push ups and sit ups as poss each day, or every other day, as this is still by far one of the best (and cheapest) ways to increase upper body muscle mass and burn fat.
Remember, muscles burn calories even when you are sitting or lying down doing nothing, so finding ways to improve muscle content will naturally lead to loss of fat. Eat plently of low fat high protein foods if muscle mass is of great importants to you. Try a protein drink each day, whey protein works best.
Oh n drink plenty of water, NO carbonated (ie coke) drinks WHAT SO EVER!! And if, like me, you get hungry between meals snack on fruit, pumkin seeds or nuts but only have sweet once in a while as a treat.
Im very much like you, own weights etc and my diet/weights is in ebs an flows but recently Ive tried to stick to low fat high protein n lots of water, n so far so good.