No, it isn't. In fact your translation is better than the one offered: e.g. you would not use a uni-directional verb "иду" to describe a repeated or habitual action (you would use "хожу" instead).
P.S. Just like in English, in Russian "Я иду домой с мамой" can describe both an actual unfolding event "I am [currently] going home with Mom" or an intended action, "I am going home with Mom [this is my plan]".
In American English, "I am going home with Mom" can only mean "I am [currently] going home with Mom". If you want to express an intent to go - a plan, or an expression of a future planned course of action - then you'd have to use a future tense, such as "I am going to go home with Mom" or "I will be going home with Mom".