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I think is better if you just reinstall and run the install.sh. Second. Forget dual php. You need only one otherwise suEXEC will not run on /home how its required. I telling you not to mess around php because you can get stuck activating modules in apache. (in that case purge apache and purge php will help if you know what I mean) I use php7.0 and works perfectly after a few purge.. I strongly advice not to try to migrate and plan for dual php specially because you will get very bad error relating to libapache-mod-php and libapache-mod-php7.0
note: doesnt matter your OS, libapache-mod-php will always make you worry if you need libapache-mod-php7.0 (in live systems is equal with purge /etc/apache2 and /etc/php and reinstall apache2 and php7.0 with libapache-mod-php7.0.)
I'm running multiple versions of PHP with 5.4+ being the core and using Software Collections for 5.5+ and 5.6+ and it works fine. This is on CentOS 6.8. Depends on what sites you are hosting etc and which versions of PHP they are compatible with but I have some sites which will not run on anything higher than 5.4+ so at least running multiple versions of PHP this way gives me this option.