Why can't you just buy a used phone and wait to upgrade to what you want? The phone could combust or Verizon can shut it off. Why take the risk?
I think most people have a problem spending extra money when it's not their fault and they shouldn't have to. Obviously Verizon didn't make the phone. But if them or Samsung really care about our safety being a priority, they'd give us something to use in whatever meantime or be a little lenient on "forcing" people into a 2yr contact on an inferior phone. Some people have BEEN ready to give their N7 back. But the problem is Everyone doesn't have a backup phone, and Verizon's only option is "upgrading" to a phone "currently available", or sending you back out the door to fend for yourself with a possibly faulty phone. Some have pre-ordered phones or have phones on back order, no option for them either. Even if you buy a used phone, you still have to wait for it to ship to you. Still a risk.
I would rather buy a used phone from a reputable site for cheap than run the risk of having to pay my homeowners or car insurance deductibles if something bad happened. You will not be able to sue anyone if something happens, especially since you admited on a public forum that you are still using the phone.
So I read that T Mobile will allow customers to obtain loaner phones when they turn in their Note 7 until they find a permanent suitable replacement for themselves. It sounds like customers will have the option of getting a Galaxy S7 or even an iPhone 6S as a loaner if the phone they want is not currently available. The same story also mentions AT&T will have the same offer. When will Verizon have the same offer?
Here's the link to the story I found: