Will I lose my points if I cancel?

Same! Ugh. We have a Dec UY and we borrowed points from 2020 for our Nov stay. I have until July 31 to decide, but it's making me crazy. And I'm honestly not even all that sure about a 2021 trip at this point because our cruise was cancelled and we moved that forward to next year and we already had another cruise booked that I really wanted to take. I'm not sure how many vacations we can cram into next year if we bank forward. Our plan was WDW every other year when we purchased our contract (that we've never used and Nov is supposed to be our welcome home trip). Sigh.

Just remember that while your banking window is end of July, the policy to return borrowed points is temporary and can be stopped at anytime.

They continue to do it today, but once parks open, they may no longer allow it. They could stop tomorrow as well.
 
Just remember that while your banking window is end of July, the policy to return borrowed points is temporary and can be stopped at anytime.

They continue to do it today, but once parks open, they may no longer allow it. They could stop tomorrow as well.
I only borrowed 8 points so while I prefer not to lose them, it's not a huge number to lose.
 

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