You can book SSR at 11-months out with any SSR points and then another room at 7-months out with HHI points. There will be no problem getting that first reservation but there might be getting that second reservation, although the earlier the start date the better chance that SSR will still be open for that time at 7-months out, e.g., if start date is Dec 23, the chances will be much better than if the start date is Dec. 28. Also chances at 7-months out will be better for preferred rooms rather than standard.
You can cancel, without penalty, any reservation at any time before 30-days from date of arrival, and the points will go back into your account the same way they went into the reservation, e.g., current points stay current, and any already banked or borrowed points stay banked or borrowed. If you cancel 30 days or fewer from date of arrival, all points go into a holding account, something you definitely want to avoid because the points can then be used to make a reservation only at 60 days or less from date of arrival and none of the points can be banked.
