If you get it repaired by an authorized Apple repair facility then yes. If you do it elsewhere and they do anything to void the warranty then Verizon will charge you for the remaining balance once they inspect it and deem that it's been tampered with (if they can tell).
We want to make sure nothing goes wrong. Kaebfly, is correct in stating that your warranty maybe affected if we have found any indication that it has been tampered with. If this is completed by a Apple location this would not void the warranty and you could trade the device in for the new phone of your choice.
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