Not sure what they mean by loose, typically the CV boots will tear, slinging grease everywhere. This tear will also let dirt and debris into the bearings of the CV joint, and that dirt coupled with the lack of lubrication (grease) will eventually cause play in the joint. When there play in the joint, you typically here a clicking sound when you are turning (when the joint is flexed). Do you hear anything when you turn? Turn the steering wheel all the way to the left and look behind the front passenger wheel at the CV shaft for grease and such. Then turn it to the right and do the same for the front driver side.
This is not my picture, but this is of the passenger side. The CV axle is the bar with the accordions on each end. Those accordions are where they rip, and they'll sling grease everywhere.
This is not a Grand Prix at all, but it will show you what the tear looks like:
