Seems worth trying for an extension, heck ask for longer. I have no idea what sort of trip this is, and whether you are booking directly or through an agent But it's possible travel may be down enough that they would prefer the chance you will come over outright cancellation. Worth a shot. (If a place isn't fully booked, a deposit/reservation probably wasn't blocking others from booking.) Failing that, if I were only 3k into a 14k trip I'd lean towards 1 over 2, but much of that choice depends on your personal circumstances.