It was possible and network is working much better now. There are some drawbacks though because of Actiontec's router which Verizon uses. Like if router loses power for any reason I have to manually change one setting in it before I can access internet again. Life is full of choices

. If someone else has Verizon's FIOS, there is a really good FAQ at:
http://www.dslreports.com/faq/verizonfios/3.0_Networking.
Thanks again for everyone who responded.