Indeed, VM is a mail *reader*, not a mail server. To do what you want, you
would want to set up an IMAP server on your home machine. If you do web
search for "IMAP server", you can find a number of IMAP servers that you
would be able to install on a home machine. I think many Linux
distributions also include such IMAP servers. There is also a program
called 'offlineimap' which can synchronize your home IMAP server with a
remote one.

You might then set up your VM on your home machine to either (i) download
mail from the IMAP server into your local folders, or (ii) read it directly
from the IMAP server using server folders.

Here is an Emacs guru that documents how to do such things (but with Gnus
in place of VM):

http://sachachua.com/blog/2008/05/geek-how-to-use-offlineimap-and-the-dovecot-mail-server-to-read-your-gmail-in-emacs-efficiently/

Cheers,
Uday