It used to work and now doesn't. Have to constantly use back button. Very annoying.
I have listed the steps along with a link below for performing a master/factory reset.
http://support.verizonwireless.com/clc/devices/knowledge_base.html?id=36724
Steps to enable/disable safe mode:
Enabling Safe mode
Press and hold the Power button.
Select Power off.
Select OK.
When the LG Logo appears on the screen, press and hold the Menu button.
Hold the Menu button until Safe mode appears in the lower-left of the home screen.
>This may take up to 30 seconds.
While in Safe Mode, remove the most recently installed applications.
Power cycle the device then attempt to use the device.
If the device works properly, install applications one at a time to identify the application causing the problem.
Disabling Safe mode
1. Press and hold the Power button.
2. Select Power off.
3. Select OK.
Steps to perform a factory rest Performing a hard reset will remove ALL data including the Google account, system data, application data, application settings, and downloaded applications.
1. From the home screen, select the applications tab (located at the bottom of the display).
2. Select Settings.
3. Select Privacy.
4. Select Factory data reset.
5. Select Reset phone. If presented, enter the current passcode or draw the unlock pattern.
6. Select Erase everything.
7. Perform initial activation